Jill Dyche on 2012

In part 3 of the series for predictions for 2012, here is Jill Dyche, Baseline Consulting/DataFlux.

Part 2 was Timo Elliot, SAP at http://www.decisionstats.com/timo-elliott-on-2012/ and Part 1 was Jim Kobielus, Forrester at http://www.decisionstats.com/jim-kobielus-on-2012/

Ajay: What are the top trends you saw happening in 2011?

 

Well, I hate to say I saw them coming, but I did. A lot of managers committed some pretty predictable mistakes in 2011. Here are a few we witnessed in 2011 live and up close:

 

1.       In the spirit of “size matters,” data warehouse teams continued to trumpet the volumes of stored data on their enterprise data warehouses. But a peek under the covers of these warehouses reveals that the data isn’t integrated. Essentially this means a variety of heterogeneous virtual data marts co-located on a single server. Neat. Big. Maybe even worthy of a magazine article about how many petabytes you’ve got. But it’s not efficient, and hardly the example of data standardization and re-use that everyone expects from analytical platforms these days.

 

2.       Development teams still didn’t factor data integration and provisioning into their project plans in 2011. So we saw multiple projects spawn duplicate efforts around data profiling, cleansing, and standardization, not to mention conflicting policies and business rules for the same information. Bummer, since IT managers should know better by now. The problem is that no one owns the problem. Which brings me to the next mistake…

 

3.       No one’s accountable for data governance. Yeah, there’s a council. And they meet. And they talk. Sometimes there’s lunch. And then nothing happens because no one’s really rewarded—or penalized for that matter—on data quality improvements or new policies. And so the reports spewing from the data mart are still fraught and no one trusts the resulting decisions.

 

But all is not lost since we’re seeing some encouraging signs already in 2012. And yes, I’d classify some of them as bona-fide trends.

 

Ajay: What are some of those trends?

 

Job descriptions for data stewards, data architects, Chief Data Officers, and other information-enabling roles are becoming crisper, and the KPIs for these roles are becoming more specific. Data management organizations are being divorced from specific lines of business and from IT, becoming specialty organizations—okay, COEs if you must—in their own rights. The value proposition for master data management now includes not just the reconciliation of heterogeneous data elements but the support of key business strategies. And C-level executives are holding the data people accountable for improving speed to market and driving down costs—not just delivering cleaner data. In short, data is becoming a business enabler. Which, I have to just say editorially, is better late than never!

 

Ajay: Anything surprise you, Jill?

 

I have to say that Obama mentioning data management in his State of the Union speech was an unexpected but pretty powerful endorsement of the importance of information in both the private and public sector.

 

I’m also sort of surprised that data governance isn’t being driven more frequently by the need for internal and external privacy policies. Our clients are constantly asking us about how to tightly-couple privacy policies into their applications and data sources. The need to protect PCI data and other highly-sensitive data elements has made executives twitchy. But they’re still not linking that need to data governance.

 

I should also mention that I’ve been impressed with the people who call me who’ve had their “aha!” moment and realize that data transcends analytic systems. It’s operational, it’s pervasive, and it’s dynamic. I figured this epiphany would happen in a few years once data quality tools became a commodity (they’re far from it). But it’s happening now. And that’s good for all types of businesses.

 

About-

Jill Dyché has written three books and numerous articles on the business value of information technology. She advises clients and executive teams on leveraging technology and information to enable strategic business initiatives. Last year her company Baseline Consulting was acquired by DataFlux Corporation, where she is currently Vice President of Thought Leadership. Find her blog posts on www.dataroundtable.com.

Jim Kobielus on 2012

Jim Kobielus revisits the predictions he made in 2011 (and a summary of 2010) , and makes some fresh ones for 2012. For technology watchers, this is an article by one of the gurus of enterprise software.

 

All of those trends predictions (at http://www.decisionstats.com/brief-interview-with-james-g-kobielus/ ) came true in 2011, and are in full force in 2012 as well.Here are my predictions for 2012, and the links to the 3 blogposts in which I made them last month:

 

The Year Ahead in Next Best Action? Here’s the Next Best Thing to a Crystal Ball!

  • The next-best-action market will continue to coalesce around core solution capabilities.
  • Data scientists will become the principal application developers for next best action.
  • Real-world experiments will become the new development paradigm in next best action.

The Year Ahead in Advanced Analytics? Advances on All Fronts!

  • Open-source platforms will expand their footprint in advanced analytics.
  • Data science centers of excellence will spring up everywhere.
  • Predictive analytics and interactive exploration will enter the mainstream BI user experience:

The Year Ahead In Big Data? Big, Cool, New Stuff Looms Large!

  • Enterprise Hadoop deployments will expand at a rapid clip.
  • In-memory analytics platforms will grow their footprint.
  • Graph databases will come into vogue.

 

And in an exclusive and generous favor for DecisionStats, Jim does some crystal gazing for the cloud computing field in 2012-

Cloud/SaaS EDWs will cross the enterprise-adoption inflection point. In 2012, cloud and software-as-a-service (SaaS) enterprise data warehouses (EDWs), offered on a public subscription basis, will gain greater enterprise adoption as a complement or outright replacement for appliance- and software-based EDWs. A growing number of established and startup EDW vendors will roll out cloud/SaaS “Big Data” offerings. Many of these will supplement and extend RDBMS and columnar technologies with Hadoop, key-value, graph, document, and other new database architectures.

About-

http://www.forrester.com/rb/analyst/james_kobielus

James G. Kobielus James G. Kobielus
Senior Analyst

RESEARCH FOCUS

 

James serves Business Process & Application Development & Delivery Professionals. He is a leading expert on data warehousing, predictive analytics, data mining, and complex event processing. In addition to his core coverage areas, James contributes to Forrester’s research in business intelligence, data integration, data quality, and master data management.

 

PREVIOUS WORK EXPERIENCE

 

James has a long history in IT research and consulting and has worked for both vendors and research firms. Most recently, he was at Current Analysis, an IT research firm, where he was a principal analyst covering topics ranging from data warehousing to data integration and the Semantic Web. Prior to that position, James was a senior technical systems analyst at Exostar (a hosted supply chain management and eBusiness hub for the aerospace and defense industry). In this capacity, James was responsible for identifying and specifying product/service requirements for federated identity, PKI, and other products. He also worked as an analyst for the Burton Group and was previously employed by LCC International, DynCorp, ADEENA, International Center for Information Technologies, and the North American Telecommunications Association. He is both well versed and experienced in product and market assessments. James is a widely published business/technology author and has spoken at many industry events.

Contact –

Twitter: http://twitter.com/jameskobielus

Interview Dan Steinberg Founder Salford Systems

Here is an interview with Dan Steinberg, Founder and President of Salford Systems (http://www.salford-systems.com/ )

Ajay- Describe your journey from academia to technology entrepreneurship. What are the key milestones or turning points that you remember.

 Dan- When I was in graduate school studying econometrics at Harvard,  a number of distinguished professors at Harvard (and MIT) were actively involved in substantial real world activities.  Professors that I interacted with, or studied with, or whose software I used became involved in the creation of such companies as Sun Microsystems, Data Resources, Inc. or were heavily involved in business consulting through their own companies or other influential consultants.  Some not involved in private sector consulting took on substantial roles in government such as membership on the President’s Council of Economic Advisors. The atmosphere was one that encouraged free movement between academia and the private sector so the idea of forming a consulting and software company was quite natural and did not seem in any way inconsistent with being devoted to the advancement of science.

 Ajay- What are the latest products by Salford Systems? Any future product plans or modification to work on Big Data analytics, mobile computing and cloud computing.

 Dan- Our central set of data mining technologies are CART, MARS, TreeNet, RandomForests, and PRIM, and we have always maintained feature rich logistic regression and linear regression modules. In our latest release scheduled for January 2012 we will be including a new data mining approach to linear and logistic regression allowing for the rapid processing of massive numbers of predictors (e.g., one million columns), with powerful predictor selection and coefficient shrinkage. The new methods allow not only classic techniques such as ridge and lasso regression, but also sub-lasso model sizes. Clear tradeoff diagrams between model complexity (number of predictors) and predictive accuracy allow the modeler to select an ideal balance suitable for their requirements.

The new version of our data mining suite, Salford Predictive Modeler (SPM), also includes two important extensions to the boosted tree technology at the heart of TreeNet.  The first, Importance Sampled learning Ensembles (ISLE), is used for the compression of TreeNet tree ensembles. Starting with, say, a 1,000 tree ensemble, the ISLE compression might well reduce this down to 200 reweighted trees. Such compression will be valuable when models need to be executed in real time. The compression rate is always under the modeler’s control, meaning that if a deployed model may only contain, say, 30 trees, then the compression will deliver an optimal 30-tree weighted ensemble. Needless to say, compression of tree ensembles should be expected to be lossy and how much accuracy is lost when extreme compression is desired will vary from case to case. Prior to ISLE, practitioners have simply truncated the ensemble to the maximum allowable size.  The new methodology will substantially outperform truncation.

The second major advance is RULEFIT, a rule extraction engine that starts with a TreeNet model and decomposes it into the most interesting and predictive rules. RULEFIT is also a tree ensemble post-processor and offers the possibility of improving on the original TreeNet predictive performance. One can think of the rule extraction as an alternative way to explain and interpret an otherwise complex multi-tree model. The rules extracted are similar conceptually to the terminal nodes of a CART tree but the various rules will not refer to mutually exclusive regions of the data.

 Ajay- You have led teams that have won multiple data mining competitions. What are some of your favorite techniques or approaches to a data mining problem.

 Dan- We only enter competitions involving problems for which our technology is suitable, generally, classification and regression. In these areas, we are  partial to TreeNet because it is such a capable and robust learning machine. However, we always find great value in analyzing many aspects of a data set with CART, especially when we require a compact and easy to understand story about the data. CART is exceptionally well suited to the discovery of errors in data, often revealing errors created by the competition organizers themselves. More than once, our reports of data problems have been responsible for the competition organizer’s decision to issue a corrected version of the data and we have been the only group to discover the problem.

In general, tackling a data mining competition is no different than tackling any analytical challenge. You must start with a solid conceptual grasp of the problem and the actual objectives, and the nature and limitations of the data. Following that comes feature extraction, the selection of a modeling strategy (or strategies), and then extensive experimentation to learn what works best.

 Ajay- I know you have created your own software. But are there other software that you use or liked to use?

 Dan- For analytics we frequently test open source software to make sure that our tools will in fact deliver the superior performance we advertise. In general, if a problem clearly requires technology other than that offered by Salford, we advise clients to seek other consultants expert in that other technology.

 Ajay- Your software is installed at 3500 sites including 400 universities as per http://www.salford-systems.com/company/aboutus/index.html What is the key to managing and keeping so many customers happy?

 Dan- First, we have taken great pains to make our software reliable and we make every effort  to avoid problems related to bugs.  Our testing procedures are extensive and we have experts dedicated to stress-testing software . Second, our interface is designed to be natural, intuitive, and easy to use, so the challenges to the new user are minimized. Also, clear documentation, help files, and training videos round out how we allow the user to look after themselves. Should a client need to contact us we try to achieve 24-hour turn around on tech support issues and monitor all tech support activity to ensure timeliness, accuracy, and helpfulness of our responses. WebEx/GotoMeeting and other internet based contact permit real time interaction.

 Ajay- What do you do to relax and unwind?

 Dan- I am in the gym almost every day combining weight and cardio training. No matter how tired I am before the workout I always come out energized so locating a good gym during my extensive travels is a must. I am also actively learning Portuguese so I look to watch a Brazilian TV show or Portuguese dubbed movie when I have time; I almost never watch any form of video unless it is available in Portuguese.

 Biography-

http://www.salford-systems.com/blog/dan-steinberg.html

Dan Steinberg, President and Founder of Salford Systems, is a well-respected member of the statistics and econometrics communities. In 1992, he developed the first PC-based implementation of the original CART procedure, working in concert with Leo Breiman, Richard Olshen, Charles Stone and Jerome Friedman. In addition, he has provided consulting services on a number of biomedical and market research projects, which have sparked further innovations in the CART program and methodology.

Dr. Steinberg received his Ph.D. in Economics from Harvard University, and has given full day presentations on data mining for the American Marketing Association, the Direct Marketing Association and the American Statistical Association. After earning a PhD in Econometrics at Harvard Steinberg began his professional career as a Member of the Technical Staff at Bell Labs, Murray Hill, and then as Assistant Professor of Economics at the University of California, San Diego. A book he co-authored on Classification and Regression Trees was awarded the 1999 Nikkei Quality Control Literature Prize in Japan for excellence in statistical literature promoting the improvement of industrial quality control and management.

His consulting experience at Salford Systems has included complex modeling projects for major banks worldwide, including Citibank, Chase, American Express, Credit Suisse, and has included projects in Europe, Australia, New Zealand, Malaysia, Korea, Japan and Brazil. Steinberg led the teams that won first place awards in the KDDCup 2000, and the 2002 Duke/TeraData Churn modeling competition, and the teams that won awards in the PAKDD competitions of 2006 and 2007. He has published papers in economics, econometrics, computer science journals, and contributes actively to the ongoing research and development at Salford.

CrowdANALYTIX

Here is a contest based community called CrowdANALYTIX.com which is quite nice and offers you free Revolution R for the statistical and analytical contests based there (a bit like Kaggle.com http://www.kaggle.com/). There are only 3 contests right now and that too low volume but I guess that number should increase. Also they seem to have a consulting arm.

Latest Analytics website- welcome! http://www.crowdanalytix.com/contests

Interview Eberhard Miethke and Dr. Mamdouh Refaat, Angoss Software

Here is an interview with Eberhard Miethke and Dr. Mamdouh Refaat, of Angoss Software. Angoss is a global leader in delivering business intelligence software and predictive analytics solutions that help businesses capitalize on their data by uncovering new opportunities to increase sales and profitability and to reduce risk.

Ajay-  Describe your personal journey in software. How can we guide young students to pursue more useful software development than just gaming applications.

 Mamdouh- I started using computers long time ago when they were programmed using punched cards! First in Fortran, then C, later C++, and then the rest. Computers and software were viewed as technical/engineering tools, and that’s why we can still see the heavy technical orientation of command languages such as Unix shells and even in the windows Command shell. However, with the introduction of database systems and Microsoft office apps, it was clear that business will be the primary user and field of application for software. My personal trip in software started with scientific applications, then business and database systems, and finally statistical software – which you can think of it as returning to the more scientific orientation. However, with the wide acceptance of businesses of the application of statistical methods in different fields such as marketing and risk management, it is a fast growing field that in need of a lot of innovation.

Ajay – Angoss makes multiple data mining and analytics products. could you please introduce us to your product portfolio and what specific data analytics need they serve.

a- Attached please find our main product flyers for KnowledgeSTUDIO and KnowledgeSEEKER. We have a 3rd product called “strategy builder” which is an add-on to the decision tree modules. This is also described in the flyer.

(see- Angoss Knowledge Studio Product Guide April2011  and http://www.scribd.com/doc/63176430/Angoss-Knowledge-Seeker-Product-Guide-April2011  )

Ajay-  The trend in analytics is for big data and cloud computing- with hadoop enabling processing of massive data sets on scalable infrastructure. What are your plans for cloud computing, tablet based as well as mobile based computing.

a- This is an area where the plan is still being figured out in all organizations. The current explosion of data collected from mobile phones, text messages, and social websites will need radically new applications that can utilize the data from these sources. Current applications are based on the relational database paradigm designed in the 70’s through the 90’s of the 20th century.

But data sources are generating data in volumes and formats that are challenging this paradigm and will need a set of new tools and possibly programming languages to fit these needs. The cloud computing, tablet based and mobile computing (which are the same thing in my opinion, just different sizes of the device) are also two technologies that have not been explored in analytics yet.

The approach taken so far by most companies, including Angoss, is to rely on new xml-based standards to represent data structures for the particular models. In this case, it is the PMML (predictive modelling mark-up language) standard, in order to allow the interoperability between analytics applications. Standardizing on the representation of models is viewed as the first step in order to allow the implementation of these models to emerging platforms, being that the cloud or mobile, or social networking websites.

The second challenge cited above is the rapidly increasing size of the data to be analyzed. Angoss has already identified this challenge early on and is currently offering in-database analytics drivers for several database engines: Netezza, Teradata and SQL Server.

These drivers allow our analytics products to translate their routines into efficient SQL-based scripts that run in the database engine to exploit its performance as well as the powerful hardware on which it runs. Thus, instead of copying the data to a staging format for analytics, these drivers allow the data to be analyzed “in-place” within the database without moving it.

Thus offering performance, security and integrity. The performance is improved because of the use of the well tuned database engines running on powerful hardware.

Extra security is achieved by not copying the data to other platforms, which could be less secure. And finally, the integrity of the results are vastly improved by making sure that the results are always obtained by analyzing the up-to-date data residing in the database rather than an older copy of the data which could be obsolete by the time the analysis is concluded.

Ajay- What are the principal competing products to your offerings, and what makes your products special or differentiated in value to them (for each customer segment).

a- There are two major players in today’s market that we usually encounter as competitors, they are: SAS and IBM.

SAS offers a data mining workbench in the form of SAS Enterprise Miner, which is closely tied to SAS data mining methodology known as SEMMA.

On the other hand, IBM has recently acquired SPSS, which offered its Clementine data mining software. IBM has now rebranded Clementine as IBM SPSS Modeller.

In comparison to these products, our KnowledgeSTUDIO and KnowledgeSEEKER offer three main advantages: ease of use; affordability; and ease of integration into existing BI environments.

Angoss products were designed to look-and-feel-like popular Microsoft office applications. This makes the learning curve indeed very steep. Typically, an intermediate level analyst needs only 2-3 days of training to become proficient in the use of the software with all its advanced features.

Another important feature of Angoss software products is their integration with SAS/base product, and SQL-based database engines. All predictive models generated by Angoss can be automatically translated to SAS and SQL scripts. This allows the generation of scoring code for these common platforms. While the software interface simplifies all the tasks to allow business users to take advantage of the value added by predictive models, the software includes advanced options to allow experienced statisticians to fine-tune their models by adjusting all model parameters as needed.

In addition, Angoss offers a unique product called StrategyBuilder, which allows the analyst to add key performance indicators (KPI’s) to predictive models. KPI’s such as profitability, market share, and loyalty are usually required to be calculated in conjunction with any sales and marketing campaign. Therefore, StrategyBuilder was designed to integrate such KPI’s with the results of a predictive model in order to render the appropriate treatment for each customer segment. These results are all integrated into a deployment strategy that can also be translated into an execution code in SQL or SAS.

The above competitive features offered by the software products of Angoss is behind its success in serving over 4000 users from over 500 clients worldwide.

Ajay -Describe a major case study where using Angoss software helped save a big amount of revenue/costs by innovative data mining.

a-Rogers Telecommunications Inc. is one of the largest Canadian telecommunications providers, serving over 8.5 million customers and a revenue of 11.1 Billion Canadian Dollars (2009). In 2008, Rogers engaged Angoss in order to help with the problem of ballooning accounts receivable for a period of 18 months.

The problem was approached by improving the efficiency of the call centre serving the collections process by a set of predictive models. The first set of models were designed to find accounts likely to default ahead of time in order to take preventative measures. A second set of models were designed to optimize the call centre resources to focus on delinquent accounts likely to pay back most of the outstanding balance. Accounts that were identified as not likely to pack quickly were good candidates for “Early-out” treatment, by forwarding them directly to collection agencies. Angoss hosted Rogers’ data and provided on a regular interval the lists of accounts for each treatment to be deployed by the call centre dialler. As a result of this Rogers estimated an improvement of 10% of the collected sums.

Biography-

Mamdouh has been active in consulting, research, and training in various areas of information technology and software development for the last 20 years. He has worked on numerous projects with major organizations in North America and Europe in the areas of data mining, business analytics, business analysis, and engineering analysis. He has held several consulting positions for solution providers including Predict AG in Basel, Switzerland, and as ANGOSS Corp. Mamdouh is the Director of Professional services for EMEA region of ANGOSS Software. Mamdouh received his PhD in engineering from the University of Toronto and his MBA from the University of Leeds, UK.

Mamdouh is the author of:

"Credit Risk Scorecards: Development and Implmentation using SAS"
 "Data Preparation for Data Mining Using SAS",
 (The Morgan Kaufmann Series in Data Management Systems) (Paperback)
 and co-author of
 "Data Mining: Know it all",Morgan Kaufmann



Eberhard Miethke  works as a senior sales executive for Angoss

 

About Angoss-

Angoss is a global leader in delivering business intelligence software and predictive analytics to businesses looking to improve performance across sales, marketing and risk. With a suite of desktop, client-server and in-database software products and Software-as-a-Service solutions, Angoss delivers powerful approaches to turn information into actionable business decisions and competitive advantage.

Angoss software products and solutions are user-friendly and agile, making predictive analytics accessible and easy to use.

Interview Scott Gidley CTO and Founder, DataFlux

Here is an interview with Scott Gidley, CTO and co-founder of leading data quality ccompany DataFlux . DataFlux is a part of SAS Institute and in 2011 acquired Baseline Consulting besides launching the latest version of their Master Data Management  product. Continue reading “Interview Scott Gidley CTO and Founder, DataFlux”

Interview Jaime Fitzgerald President Fitzgerald Analytics

Here is an interview with noted analytics expert Jaime Fitzgerald, of Fitzgerald Analytics.

Ajay-Describe your career journey from being a Harvard economist to being a text analytics thought leader.

 Jaime- I was attracted to economics because of the logic, the structured and systematic approach to understanding the world and to solving problems. In retrospect, this is the same passion for logic in problem solving that drives my business today.

About 15 years ago, I began working in consulting and initially took a traditional career path. I worked for well-known strategy consulting firms including First Manhattan Consulting Group, Novantas LLC, Braun Consulting, and for the former Japan-focused division of Deloitte Consulting, which had spun off as an independent entity. I was the only person in their New York City office for whom Japanese was not the first language.

While I enjoyed traditional consulting, I was especially passionate about the role of data, analytics, and process improvement. In traditional strategy consulting, these are important factors, but I had a vision for a “next generation” approach to strategy consulting that would be more transparent, more robust, and more focused on the role that information, analysis, and process plays in improving business results. I often explain that while my firm is “not your father’s consulting model,” we have incorporated key best practices from traditional consulting, and combined them with an approach that is more data-centric, technology-centric, and process-centric.

At the most fundamental level, I was compelled to found Fitzgerald Analytics more than six years ago by my passion for the role information plays in improving results, and ultimately improving lives. In my vision, data is an asset waiting to be transformed into results, including profit as well as other results that matter deeply to people. For example,one of the most fulfilling aspects of our work at Fitzgerald Analytics is our support of non-profits and social entrepreneurs, who we help increase their scale and their success in achieving their goals.

Ajay- How would you describe analytics as a career option to future students. What do you think are the most essential qualities an analytics career requires.

Jaime- My belief is that analytics will be a major driver of job-growth and career growth for decades. We are just beginning to unlock the full potential of analytics, and already the demand for analytic talent far exceeds the supply.

To succeed in analytics, the most important quality is logic. Many people believe that math or statistical skills are the most important quality, but in my experience, the most essential trait is what I call “ThoughtStyle” — critical thinking, logic, an ability to break down a problem into components, into sub-parts.

Ajay -What are your favorite techniques and methodologies in text analytics. How do you see social media and Big Data analytics as components of text analytics

 Jaime-We do a lot of work for our clients measuring Customer Experience, by which I mean the experience customers have when interacting with our clients. For example, we helped a major brokerage firm to measure 12 key “Moments that Matter,” including the operational aspects of customer service, customer satisfaction and sentiment, and ultimately customer behavior. Clients care about this a lot, because customer experience drives customer loyalty, which in turn drives customer behavior, customer loyalty, and customer profitability.

Text analytics plays a key role in these projects because much of our data on customer sentiment comes via unstructured text data. For example, we have access to call center transcripts and notes, to survey responses, and to social media comments.

We use a variety of methods, some of which I’m not in a position to describe in great detail. But at a high level, I would say that our favorite text analytics methodologies are “hybrid solutions” which use a two-step process to answer key questions for clients:

Step 1: convert unstructured data into key categorical variables (for example, using contextual analysis to flag users who are critical vs. neutral vs. advocates)

Step 2: linking sentiment categories to customer behavior and profitability (for example, linking customer advocacy and loyalty with customer profits as well as referral volume, to define the ROI that clients accrue for customer satisfaction improvements)

Ajay- Describe your consulting company- Fitzgerald Analytics and some of the work that you have been engaged in.

 Jaime- Our mission is to “illuminate reality” using data and to convert Data to Dollars for our clients. We have a track record of doing this well, with concrete and measurable results in the millions of dollars. As a result, 100% of our clients have engaged us for more than one project: a 100% client loyalty rate.

Our specialties–and most frequent projects–include customer profitability management projects, customer segmentation, customer experience management, balanced scorecards, and predictive analytics. We are often engaged to address high-stakes analytic questions, including issues that help to set long-term strategy. In other cases, clients hire us to help them build their internal capabilities. We have helped build several brand new analytic teams for clients, which continue to generate millions of dollars of profits with their fact-based recommendations.

Our methodology is based on Steven Covey’s principle: “begin with the end in mind,” the concept of starting with the client’s goal and working backwards from there. I often explain that our methods are what you would have gotten if Steven Covey had been a data analyst…we are applying his principles to the world of data analytics.

Ajay- Analytics requires more and more data while privacy requires the least possible data. What do you think are the guidelines that need to be built in sharing internet browsing and user activity data and do we need regulations just like we do for sharing financial data.

 Jaime- Great question. This is an essential challenge of the big data era. My perspective is that firms who depend on user data for their analysis need to take responsibility for protecting privacy by using data management best practices. Best practices to adequately “mask” or remove private data exist…the problem is that these best practices are often not applied. For example, Facebook’s practice of sharing unique user IDs with third-party application companies has generated a lot of criticism, and could have been avoided by applying data management best practices which are well known among the data management community.

If I were able to influence public policy, my recommendation would be to adopt a core set of simple but powerful data management standards that would protect consumers from perhaps 95% of the privacy risks they face today. The number one standard would be to prohibit sharing of static, personally identifiable user IDs between companies in a manner that creates “privacy risk.” Companies can track unique customers without using a static ID…they need to step up and do that.

Ajay- What are your favorite text analytics software that you like to work with.

 Jaime- Because much of our work in deeply embedded into client operations and systems, we often use the software our clients already prefer. We avoid recommending specific vendors unless our client requests it. In tandem with our clients and alliance partners, we have particular respect for Autonomy, Open Text, Clarabridge, and Attensity.

Biography-

http://www.fitzgerald-analytics.com/jaime_fitzgerald.html

The Founder and President of Fitzgerald Analytics, Jaime has developed a distinctively quantitative, fact-based, and transparent approach to solving high stakes problems and improving results.  His approach enables translation of Data to Dollars™ using methodologies clients can repeat again and again.  He is equally passionate about the “human side of the equation,” and is known for his ability to link the human and the quantitative, both of which are needed to achieve optimal results.

Experience: During more than 15 years serving clients as a management strategy consultant, Jaime has focused on customer experience and loyalty, customer profitability, technology strategy, information management, and business process improvement.  Jaime has advised market-leading banks, retailers, manufacturers, media companies, and non-profit organizations in the United States, Canada, and Singapore, combining strategic analysis with hands-on implementation of technology and operations enhancements.

Career History: Jaime began his career at First Manhattan Consulting Group, specialists in financial services, and was later a Co-Founder at Novantas, the strategy consultancy based in New York City.  Jaime was also a Manager for Braun Consulting, now part of Fair Isaac Corporation, and for Japan-based Abeam Consulting, now part of NEC.

Background: Jaime is a graduate of Harvard University with a B.A. in Economics.  He is passionate and supportive of innovative non-profit organizations, their effectiveness, and the benefits they bring to our society.

Upcoming Speaking Engagements:   Jaime is a frequent speaker on analytics, information management strategy, and data-driven profit improvement.  He recently gave keynote presentations on Analytics in Financial Services for The Data Warehousing Institute, the New York Technology Council, and the Oracle Financial Services Industry User Group. A list of Jaime’s most interesting presentations on analyticscan be found here.

He will be presenting a client case study this fall at Text Analytics World re:   “New Insights from ‘Big Legacy Data’: The Role of Text Analytics” 

Connecting with Jaime:  Jaime can be found at Linkedin,  and Twitter.  He edits the Fitzgerald Analytics Blog.